The West African Development Bank (BOAD) has just issued an inaugural bond of 750 million euros over 12 years, or 492.85 billion FCFA. This operation represents BOAD's first euro transaction, and the first sustainable bond from an African issuer

The inaugural sustainable bond is a historic transaction, not only for BOAD, but also for the sub-Saharan African region as a whole. According to the heads of the institution, this operation testifies to the status of the West African Economic and Monetary Union (UEMOA) as a rapidly developing region, as well as the key role of BOAD in promoting this growth.
“It is wonderful to see this first sustainable bond from an African issuer, and great to see that they are doing a good job helping a vast region,” said an Environmental Finance Bond Awards jury member about BOAD's victory. The issuance of sustainable bonds has attracted more than 260 investors across the world, with 40% coming from the United Kingdom.

The issue is part of a sustainable bond framework, calling on BOAD to finance projects with strong social and environmental impacts. The proceeds of the show will strengthen BOAD's capacity to invest in priority sectors such as agriculture and food security, renewable energy, affordable basic infrastructure, health, education, clean transport, climate change adaptation, green buildings, pollution prevention and control, socio-economic advancement and empowerment, sustainable management of natural resources living and affordable social housing.